Inflation reduces the value of cash, and the longer it is stored “under the pillow,” the less purchasing power it has. Prices for goods and services will rise, but savings will not, Roman Khoroshev, CEO of the crowd-lending platform JetLend, told socialbites.ca.
He explained that annual inflation is currently 9%. Interest rates on deposits and savings accounts are higher. According to Khoroshev, if you now deposit 100 thousand rubles. in a savings account in a bank at 10% per annum (on average), in two years the account will already have 121 thousand rubles. And if you choose a deposit of 15%, this is already 132 thousand rubles. in 2026.
“At the same time, the savings account can be replenished without restrictions, and the money is not frozen. In the case of cash, 100 thousand rubles. 100 thousand will remain. At the same time, their value will decrease significantly: 100 thousand can fall to 80 thousand rubles. in two years. Sanctions do not affect ruble deposits. Most of the current restrictions on the withdrawal of money from deposits affect only foreign currency accounts,” Khoroshev said.
The expert also noted that when storing cash at home, there is a high risk of losing it forever — for example, in the event of a fire or a move.
Previously the Central Bank raised The key rate is between 16% and 18% per annum.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.